THERE’S ONLY EVER ONE CHEAP­EST AGENT

If you’re not aim­ing to be the cheap­est agent, you must com­pete on value. And the only thing that can cre­ate value is cus­tomer ex­pe­ri­ence. Coach Josh Phe­gan ex­plains.

Elite Agent - - CONTENTS - JOSH PHE­GAN

Josh Phe­gan

WHAT YOU THINK IS THE PROB­LEM isn’t the prob­lem. The way you think about the prob­lem – that’s the prob­lem.

There are three types of cus­tomer you need to get close to. Ex­ist­ing cus­tomers of your firm – they know you, love you and chose you for a rea­son. Com­peti­tors’ cus­tomers – they chose the com­peti­tor for a rea­son and have valu­able in­sights into the way you present that turned them away. And, thirdly, non-con­sumers – peo­ple who haven’t yet used real es­tate ser­vices but still have valu­able per­cep­tions around who they would choose and why.

The in­dus­try is so trans­ac­tional in its na­ture that rarely does it stop for just a few mo­ments to get close to these three cus­tomer types to un­der­stand what the cus­tomers find valu­able.

HOW DO YOU DRIVE UP VALUE IN THE CON­SUMER’S MIND?

An­swer: Get more jobs done.

What’s the job the cus­tomer needs to get done? If you think it’s to get the house sold, you’re wrong. It’s one of the jobs, but there’s far more to a suc­cess­ful trans­ac­tion.

They want to be sold, have suc­cess­fully pur­chased, be moved and get­ting on with life post the trans­ac­tions. The more you can help to al­le­vi­ate the things they will go through in the trans­ac­tion, the more valu­able you be­come.

Most of what we do is for­get­table, but there are mo­ments that be­come re­mark­able. Like the mo­ment when the agent turns up a day af­ter you’ve bought or sold to or­gan­ise the mail re­di­rect­ion, pro­vides quotes from sup­pli­ers like a re­moval­ist and or­gan­ises the dis­con­nec­tion and con­nec­tion of es­sen­tial ser­vices.

While it seems sim­ple, of­ten agents only do these things if they no­tice their com­peti­tor is do­ing them. When you have a deep un­der­stand­ing of the cus­tomer, then you can serve.

De­sign­ing the cus­tomer jour­ney is about iden­ti­fied low points (pain, anx­i­ety and stress), then plac­ing a high point (mo­ments of joy, won­der and amaze­ment) right next to them. The closer the high is to the low, the less likely the con­sumer is to re­mem­ber the low. Think price re­duc­tion, then 24 hours later there’s a buyer ap­point­ment, and the buyer makes an of­fer.

When­ever you have to call a client and you’re putting it off or hes­i­tat­ing be­cause there’s a real chance you’re about to de­liver a low, what can you do in the fol­low­ing 24 hours to en­gi­neer a high?

When you un­der­stand the cus­tomer jour­ney, you can de­sign the low and high points.

Dis­ney­land places an

IT’S THE MO­MENT WHEN THE CUS­TOMER RE­ALISES THEY HAD UN­MET, UNIDEN­TI­FIED AND UNSATISFIED NEEDS THAT WERE JUST MET AND EX­CEEDED.

ap­prox­i­mate wait time on all its rides. Then, when you get to the head of the line, you turn to your part­ner and say, ‘Wow, that was pretty quick’. You’ve just ex­pe­ri­enced an en­gi­neered cus­tomer ex­pe­ri­ence. It’s the mo­ment when the cus­tomer re­alises they had un­met, uniden­ti­fied and unsatisfied needs that were just met and ex­ceeded. Those mo­ments be­come re­mark­able, and those sat­is­fied cus­tomers bring you your next cus­tomers.

DEMON­STRATE YOUR UN­DER­STAND­ING OF DIF­FER­ENT SIT­U­A­TIONS

You may be faced with a po­ten­tial cus­tomer who is the ex­ecu­tor of a will. What are the jobs the ex­ecu­tor needs to get done and how can you demon­strate value? Here are some ques­tions to ask: • Have you been an ex­ecu­tor

be­fore? • Do all the ben­e­fi­cia­ries get

along? • You’ve al­ready got a full-time

job, and now you’ve been given

WHAT’S THE JOB THE CUS­TOMER NEEDS TO GET DONE? IF YOU THINK IT’S TO GET THE HOUSE SOLD, YOU’RE WRONG.

an­other one. How do you feel about the role and the sale? • Do any of the fam­ily mem­bers

want to buy the prop­erty? • How much transparency is

re­quired in the sales process? • Does the prop­erty hold

sen­ti­men­tal value? • If so, and the prop­erty is ripe for re­de­vel­op­ment, how do you feel about sell­ing the prop­erty to a devel­oper?

Your role as an agent of value is to take the pres­sure and the stress off the client. You can help if re­quired to ne­go­ti­ate with the ben­e­fi­cia­ries, pro­vide a trans­par­ent sales process and dis­cuss pro­ceed­ings with fam­ily mem­bers.

At that mo­ment in the trans­ac­tion, the cus­tomer says, ‘Wow, you get me and my sit­u­a­tion more than I get me and my sit­u­a­tion!’ That’s called sit­u­a­tional aware­ness.

The prob­lem is we’re head­ing into the same sit­u­a­tions al­most as though it’s the first time we’ve ever ex­pe­ri­enced them. We have low sit­u­a­tional aware­ness and rarely train our teams around cus­tomer ser­vice stan­dards.

USE UNIQUE LAN­GUAGE TO PO­SI­TION YOUR­SELF AS DIF­FER­ENT

Ev­ery agent talks about styling when they should be talk­ing about the ben­e­fit.

One buyer is go­ing to walk through five homes this week­end. That buyer is go­ing to de­cide to buy one of those homes. The home that feels easy to live in and looks as though they don’t have to do any­thing to is the one they’ll buy. Your job as the agent is to make that hap­pen. That’s why you have a team of peo­ple around you – painters, fur­ni­ture peo­ple and so on – to achieve those two buyer val­ues, to ne­go­ti­ate that one buyer up and get the buyer’s de­ci­sion in favour of the seller’s home.

The agent who makes it the eas­i­est, the one who demon­strates true em­pa­thy for the sit­u­a­tion, who can show how many of the jobs they get done that the cus­tomer didn’t even know they had to do to nav­i­gate a suc­cess­ful move, is the one who wins.

There’s only one an­swer to achieve thriv­ing busi­ness suc­cess: drop be­ing com­peti­tor-ob­sessed and be cus­tomer-ob­sessed.

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